Category: Business

Ex-Satyam chief gets bail

Former Satyam chief B Ramalinga Raju, the prime accused in the multi-crore Satyam scam was granted bail by the Andhra Pradesh High Court with a condition to co-operate with the investigators and not to leave the country. He has also been asked to furnish two sureties of Rs. 20 lakhs each.

Mr. Raju languished in jail since January 2009 after he confessed to a Rs. 7,800 crore fraud in Satyam Computer Services Ltd., a company founded by him.

British Airways, Kingfisher tie up

A codeshare tie up between British Airways and Kingfisher Airlines which is on the anvil would facilitate seamless travel for passengers who could also enjoy benefits while travelling on their...

Vedanta diversifies into oil even as mining found illegal

Vedanta Resources diversified into oil business by taking over 60 per cent stake in Cairn India which is owning India’s largest oilfield at Mangala in Rajasthan.
The deal is expected to be completed over a period of three months and Sesa Goa, the leading Goan mine field which was taken over by Vedanta earlier, will have a 20 per cent stake in the new venture.

East India Company in Indian hands

The East India Company that entered India as traders and facilitated the rule of the British empire over this land has now come into the hands of an Indian following...

The Taj Mahal Palace re-opens

The Taj Mahal Palace, the showpiece hotel of the Taj group that was ravaged in the terrorist attack on 26th November 2008 finally re-opened on India’s Independence Day.

Showers of red rose petals, cheers and loud applause greeted the announcement of its reopening as Tata Sons’ Chairman Ratan Tata stood with the staff on the grand cantilever staircase for a keepsake photograph that symbolises the fighting spirit of Indians.

Star Line up for TATA top job

NEW DELHI: Given the fact that Tata Group is an Indian company with a global presence, the process of selecting successor to Ratan Tata to head this multinational has the world’s attention and it is believed that a person of Indian origin who may not necessarily be an Indian citizen will head the company.

What is significant is that the House of Tata itself has quite a few talented individuals who may well taken on the mantle and Ratan Tata’s statement at the Tata Chemicals’ annual general meeting recently, has fuelled this thought.

Mumbai Port partially opens for traffic

The Mumbai Port Trust (MbPT) and Jawaharlal Nehru Port Trust (JNPT), which have been closed for traffic due to the floating and sunken containers from MSC Chitra, partially opened for traffic as ship convoys escorted by naval helicopters and warships with side sonar equipment held them to navigate the channel.

According to MbPT Chairman Rahul Asthana, small and medium ships were allowed to use the channel while JNPT Chairman N N Kumar opined that it will take another week for the channel to be fully operational.

BlackBerry finally relents

RIM, the makers of BlackBerry finally agreed to provide technical solutions allowing lawful interception of its messenger service even though the same was a commitment it had made two years ago.

While the government will be enabled to intercept its messenger service, the company officials reportedly did not budge on the BlackBerry Enterprise Service (BES) which provides corporate e-mails.

Sources revealed that RIM promised to first address the security concerns associated with the messenger service and then work out a different solution for the BES.

We Aim For The Top Slot Or We Sell: Bickson

Raymond Bickson, managing director and chief executive officer of The Indian Hotels Co. Ltd (TIHCL), says the Taj has flanked itself well as competitors such as the Marriotts, Hyatts and Radissons of the world enter India. Speaking to Mint after unveiling the refurbished Taj to the media, Bickson says the chain has recovered well from the double whammy of 2008 terrorist attack and the economic downturn. Edited excerpts:

It would have been very difficult to retain the heritage look of the hotel? The “Tajness” if we can borrow your phrase.

BSE Opens On High Note

The Bombay Stock Exchange benchmark Sensex on Friday opened higher by 79 points on buying by funds in bluechips, especially banking and PSU stocks. The 30-share index gained 79.23 points,...